Equities
| US Equities
US equity research, from the S&P 500 to sectors and factors, on where stocks are heading next.
A dovish Fed bought the bounce a bit more time, but there is little incentive to add portfolio risk. Buy consumer finance, especially vs. banks, and expect communications equipment outperformance.
Confirming indicators still do not validate the oversold rally. Fade the materials sector bounce, by selling steel down to underweight.